1、 December 2023 COFFEE REPORT AND OUTLOOK I Executive Summary World coffee production increased by 0.1%to 168.2 million bags in coffee year 2022/23.The stagnant growth rate belies the tremendous changes at the regional level,with the coffee world neatly split between the expanding Americas and the sh

2、rinking rest of the world.Asia&Oceania and Africas 4.7%and 7.2%decreases in production to 49.84 million bags and 17.9 million bags,respectively,can be attributed to adverse weather conditions negatively affecting key producers in the regions,particularly Vietnam,Cte dIvoire and Uganda.The magnitude

3、of the fall in outputs of the two regions was entirely mitigated by the Americas,especially by South Americas 4.8%increase,which in turn was driven mainly by the biennial production-affected 8.4%increase in Brazil.The combined output of the Americas was 100.5 million bags.The Americas versus the res

4、t of the world split was also reflected in the production split between the Arabicas and Robustas,with the formers output increasing by 1.8%to 94.0 million bags as compared with the 2.0%decrease of the latter to 74.2 million bags.Looking ahead,the output for coffee year 2023/24 is expected to increa

5、se by 5.8%to 178.0 million bags,with the Arabicas output rising to 102.2 million bags and the Robustas increasing to 75.8 million bags.The biennial production effect will play a large role in the outlook,especially for Brazil and the Arabicas,as the impact of the July 2021 frost continues to be reso

6、lved.Coffee year 2023/24 is anticipated to be an exceptional off-biennial year,feeling more like a good on-biennial following an average on-biennial year.Adverse weather conditions,first noted in 2022 and continuing into 2023,will have a negative impact on the outlook for coffee year 2023/24.The ant